Piper Sandler Starts Celsius Holdings (CELH) at Overweight, 'Differentiated Brand That Wins With Consumers'

Piper Sandler analyst Michael Lavery initiates coverage on Celsius Holdings (NASDAQ: CELH) with a Overweight rating and a price target of $110.00.

The analyst comments "We initiate on CELH with an OW rating and a $110 target. We believe it has a differentiated brand and product in the energy drink space and can continue to drive sustainable, volumedriven share gains. We expect its PEP distribution deal to drive near-term (US-focused) and long-term (international-focused) gains. We apply a ~5.0x EV/Sales multiple, which we consider appropriate based on its growth, margins, and peer consumer growth comps, and could prove conservative when accounting for both estimated sales growth and profitability."

For an analyst ratings summary and ratings history on Celsius Holdings click here. For more ratings news on Celsius Holdings click here.

Shares of Celsius Holdings closed at $89.98 yesterday.

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